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Which of the following correctly describes the reason that governments intervene in markets to promote competition?

A

Competitive markets have smaller consumer and producer surpluses than imperfectly competitive markets.

B

Competition leads to higher profits for firms in the long run.

C

Competitive markets produce a lower equilibrium quantity than imperfectly competitive markets.

D

Competitive firms have greater control of price than imperfectly competitive firms.

E

Competitive markets produce more efficient outcomes than imperfectly competitive markets.

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